Wells Fargo & Co Reaffirms Hold Rating for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL)‘s stock had its “hold” rating reissued by equities research analysts at Wells Fargo & Co in a research report issued on Wednesday, December 27th. They presently have a $195.00 target price on the iPhone maker’s stock. Wells Fargo & Co’s price target suggests a potential upside of 10.11% from the company’s current price.

AAPL has been the topic of several other research reports. Nomura set a $175.00 price target on Apple and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Instinet lowered Apple from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a report on Tuesday, December 19th. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Apple in a report on Friday, December 22nd. UBS Group set a $190.00 price target on Apple and gave the stock a “buy” rating in a report on Monday, November 27th. Finally, Vetr lowered Apple from a “buy” rating to a “hold” rating and set a $178.70 price target on the stock. in a report on Thursday, November 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Apple currently has an average rating of “Buy” and a consensus price target of $198.94.

Shares of Apple (NASDAQ AAPL) opened at $177.09 on Wednesday. Apple has a one year low of $118.22 and a one year high of $177.36. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The stock has a market cap of $909,240.00, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.43 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The company had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. equities analysts expect that Apple will post 11.18 earnings per share for the current fiscal year.

In other Apple news, insider Johny Srouji sold 10,368 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $174.68, for a total value of $1,811,082.24. Following the sale, the insider now owns 81,560 shares of the company’s stock, valued at $14,246,900.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $174.78, for a total value of $2,733,733.98. Following the completion of the sale, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders sold 128,412 shares of company stock worth $22,115,155 in the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Stone House Investment Management LLC boosted its stake in shares of Apple by 0.4% during the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock valued at $226,000 after acquiring an additional 6 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Apple by 0.3% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock valued at $782,000 after acquiring an additional 17 shares during the last quarter. Lenox Wealth Advisors Inc. boosted its stake in shares of Apple by 0.4% during the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock valued at $716,000 after acquiring an additional 20 shares during the last quarter. Karp Capital Management Corp boosted its stake in shares of Apple by 1.6% during the second quarter. Karp Capital Management Corp now owns 1,427 shares of the iPhone maker’s stock valued at $206,000 after acquiring an additional 22 shares during the last quarter. Finally, Welch Investments LLC boosted its stake in shares of Apple by 1.5% during the second quarter. Welch Investments LLC now owns 1,607 shares of the iPhone maker’s stock valued at $231,000 after acquiring an additional 23 shares during the last quarter. 60.17% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Co Reaffirms Hold Rating for Apple (NASDAQ:AAPL)” was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.thelincolnianonline.com/2018/01/14/wells-fargo-co-reaffirms-hold-rating-for-apple-aapl-updated-updated.html.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply